Sports and entertainment consulting agency, Elevate Sports Ventures, has partnered with technology business Recentive Analytics to help sports teams, leagues and venues with predictive software solutions.
The Precast software solution is already used by more than 30 sporting clients including National Football League (NFL)’s Tampa Bay Buccaneers, Thrill one Sports and Entertainment, the National Basketball (NBA)’s Oklahoma City Thunder, National Hockey League (NHL)’s Dallas Stars, Seattle Kraken and Major League Soccer (MLS) side St. Louis City FC.
The software is used for revenue driving and predictive solutions, and is powered by data resources and 98%-accurate proprietary machine-learning models. The partnership between Elevate and Recentive will look to develop a new software solution powered by artificial intelligence (AI) for ticketing.
Precast will power Elevate Insights, Elevate’s data-driven strategic consulting arm. The consultancy aims to help clients to accurately price, package and market premium hospitality services.
Dynamic Pricing partners, Elevate’s pricing, analytics and ticket distribution technology business will use Recentive technology to power its secondary market pricing platform, which will enable partners to autonomously price ticket inventory across their distribution channels.
Elevate Insights clients will be able to access predictive data to make informative decisions around maximising revenue. Precast is able to project account level and overall attendance in real-time to maximise ticket utilisation, increase renewals and optimise stadium operations. It will also offer a ticket pricing simulator and predictive renewal rates to increase ticketing revenue.
Andy Tabrizi, founder and chief executive of Recentive Analytics, said: “We continue to build leading technology to solve our clients’ most complex challenges and enable them to make better, faster and optimized decisions everyday.
“We’re looking forward to expanding that vision with this partnership with Elevate Sports Ventures.”